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The chain saw growth in its upmarket own-brand range Taste the Difference – which now accounts for 5 per cent of all sales, bringing in more than £1billion annually – although its budget basics range was flat.

Shares, up 26 per cent over the past 12 months, rose 2.4p to 365.1p.

It also gained market share, up 0.2 per cent to 16.8 per cent of the industry. ‘We’re the only one of the big five delivering market growth,’ boasted King.

But he played down the importance of potentially overtaking Asda, saying that wasn’t how success was measured.

It compares to beleaguered rival Tesco, which reported a fall in underlying sales in the last quarter.

Sainsbury’s opened 19 convenience outfits during the quarter, and will open an average of two new shops a week this year.